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CAPITAL GAIN TAX 21-22

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(Querist)
30 January 2022 I HAVE PURCHASED LAND ON 24.01.2013. I HAVE CONSTRUCTED ON THE SAME LAND IN F Y 18-19, 19-20 & 20-21. SAME BUILDING SOLD IN F Y 21-22. NOW I REQUEST YOU TO KINDLY SUGGEST HOW TO CALCULATE TAX SUCH AS SHORT TERM CAPITAL GAIN OR LONG TERM CAPITAL GAIN.
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c.bakshi

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c.bakshi (Expert)
30 January 2022 as the land is purchased as on 2012-13, the same can be treated as long term Capital Asset and any gain or loss arising out of that transactions is treated as Long Term capital loss/Gain
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
31 January 2022 Initial investment on land will be LT.
While cost of improvement which has not completed 2 years will be short term.
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